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Below is an Interesting article I found, which says that.....Do not ) Z# q# y, z' i1 d
expect much from Crude Oil producers and future is not with the # @; R6 X! [- c# w- D& H8 G
companies producing Jet fuels but Biofuels. Also no wonder if some of
# s' J- N' b# k0 Y; ]7 cthese oil producer will go bankrupt or out of the business even if
, G0 I& \3 h* t) Z5 o; ycrude prices improves. This implies also to good names such as Shell, 2 }; c( u7 Q& f8 D1 Z9 M9 [. q- x
EXXON, BG, BP, Cheveron ....xyz.. oils ) i. C5 }4 b8 f1 i/ x
& q( ?9 l/ A6 N% o8 |
Recently OPEC reduced crude oil production twice over just a few [ q+ V7 J5 k5 b! E: c
months. There are three wars going on in Gaza, Iraq and Afghandistan.
4 c5 _+ P9 @$ i* NA year ago these things would have spiked the price of crude oil by at - h/ R$ F0 c7 T- w# j' y _
least $50.00 per barrel. Today, oil price declined by a record amount. 9 H& s& v) M* z$ n) b* T" }
7 T8 C8 [. g2 i5 ?( K, G
, B; T+ L0 N8 |6 M2 b$ ^& d9 h" R- OThere are several reasons the price of oil is decreasing in the face j4 s4 D* S- M
of so much news. These reasons are: $ f* ]7 O; z9 |1 v5 Y9 J! c
" p3 K( r, e9 X6 g4 A
9 Y1 c+ Q; I$ r2 }6 P1. New oil has been found in Canada, Montana, North & South Dakota and
+ F# W! s2 B) q# \" ain the ocean near Brazil. Each of these oil fields has more oil than ! V& i+ I4 _9 u/ S
Arabia. . `7 V- I2 J+ ~( j% w" U( X! R1 \) w
, @7 O* ?. l& p
. z6 J( p+ C- B8 P2 l( ]2. New natural gas has been found in Pennsylvania and West Virginia. . ?7 H$ J v N8 h. v+ |6 o, D
This is the largest find in North America. + E" Y* h' j3 p% j
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3. New methods of injecting CO2 and surfactants into oil wells is
1 d+ Q9 k" o& `) i6 j! V* abeing used to double their output. 1 G6 P& q' I) t9 D
% I2 |) R* ~0 A! M1 t* ]/ a
7 E2 k% ^/ e% ]3 u4. Production of bio-fuels is beginning to reach critical mass. Bio
# i* o7 `+ J7 a$ M n4 l& ]! Efuel is being produced from many plants and algae. The production
8 S3 i3 W8 ~: f" {' a2 z( M; C. F. E- P2 Hpotential per acre in some cases is astounding. Many countries are ) e" U3 A+ b2 `
racing to produce bio fuels. + G. K) w6 V. B$ E1 F4 y
B& E; {3 K# X7 f* b( O K. ~0 ]; Y4 e
5. Virtually every restaurant in the US and all food processing plants 4 x) Q' }. B+ x, g8 y, l
are now selling their used oil to bio-diesel producers. Every pork,
+ h4 V! ], {3 l$ z) P5 ]( {: }2 ccattle, turkey and chicken processing plant will soon sell their fat ! f) V) w" v: q+ }
to bio-diesel producers. One pork processing plant in Oklahoma is
1 U' z$ I, z4 Vproducing 30,000 gallons of bio-diesel per day from pork fat.
# z8 T/ M5 F2 A2 n1 ~& l" Z+ H5 G- t* c' C
$ s s& q" P+ d8 U0 G& T6. There are 99 nuclear reactors in various stages of planning and , d# v4 v8 \% b
construction around the world at this time. Several hundred more are # o: Y- A U7 D4 z7 |
expected to be built in the future. Much of the energy they produce
* p3 a! _4 z$ W7 Y6 kwill replace oil. 0 K' \0 R, s" E9 d% v& p
* q( A7 B# c; t3 G% N
; `' _$ w' f4 ^( z: U9 |9 ` [9 W
7. Every company in any form of transportaion business is replacing 4 D5 o. w$ x/ E; P2 F/ O* `
older equipment such as trucks, airplanes, train engines, ships, etc. 4 v7 o5 ~6 J6 \1 l. W# A3 k0 _8 D
with new more fuel efficient equipment. Airlines and railway companies 1 W) Y8 w" A$ a6 X3 [ r
are experiencing 20% to 25% better fuel econony with the new 9 o% c" v r) |
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- ) i' G0 g: A ^8 T& M$ K
fuel is cleaner and performs better than jet fuel. 6 s9 X1 N5 l! k# }' Z
$ i8 }4 A. l1 D' v! k0 s2 y; Y. H3 {2 S6 _, Z, V
8. Cities and counties throughout the US are selling the rights to
: E8 l- @9 i# r& C0 O, ncapture methane gas from landfills. This is a huge source of gas
( ?# M' s6 n4 W6 G5 M+ Havailable at very little cost or risk. The gas is displacing crude
" L) o8 [4 ]+ Noil. ) R6 B( T9 P# \7 ?8 V
8 u$ X& J. d/ G! C" F+ ?& x
) \+ ~7 v% N: I3 M L! F9. Coal is being transformed into a clean burning liquid fuel. The CO2 7 T7 S# R0 F* c3 m! w1 Z+ C$ ~4 X) ^. A
produced as a byproduct is sold to oil companies for injection into
. w% E3 |9 G9 w) u$ G5 Ooil wells.
# @ h+ t: ]+ P! _9 I& j
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7 T/ h/ |6 l% b* b# R/ v10. Solar, wind and ocean energy is displacing oil as an energy % R, |# x7 j& n- q E) i: y
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the
5 A r+ Q* T% D+ Q5 G5 vprice of crude oil but the sum of all of them together is world
9 m( W$ n# s( e3 z" ochanging. The important thing is that OPEC no longer has the ability 2 E, v; j( N1 O% H$ F+ k
to control oil prices.
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% h' Q) f* G/ k/ CWith the above scenario, I still believe that there are under
( B6 T. t* M" p3 K6 Q; N2 Eperformed OIL companies and probably they are yet to get the justified " @& Y4 ~2 `3 V5 T I9 _
value .....
- U+ e! Q" H: JIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 2 o9 ~+ C: q9 ^5 Q% k
7 _% x. `. r! M& l
2 I6 V& o7 z/ C, a* l4 U. h. _
The above articles are from WSJ .............PUBLISHED ON 9TH JAN
) C, t+ D" O2 w2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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